Colonial Penn Will issue a policy without asking any health questions. Do you find it fair to pay the same rates as someone who was diagnosed with cancer today or would you rather save a boatload of money by answering a few health questions?
Globe Life and AARP policies have really low rates, but they only stay that way for 1-5 years and then you're gonna see a rate increase. Then every 5 years you will see a rate increase. In the unlikely event that you stick with AARP though 30 years of rate increases when you turn 80 your policy term ends and you don't have anything to show for all of those premiums that you have paid, except an option to finally purchase a permanent policy.
Not turning this into another term vs. perm argument. Most FE prospects that I see do not want term insurance , and don't realize that is what they are applying for.
Globe Life and AARP policies have really low rates, but they only stay that way for 1-5 years and then you're gonna see a rate increase. Then every 5 years you will see a rate increase. In the unlikely event that you stick with AARP though 30 years of rate increases when you turn 80 your policy term ends and you don't have anything to show for all of those premiums that you have paid, except an option to finally purchase a permanent policy.
Not turning this into another term vs. perm argument. Most FE prospects that I see do not want term insurance , and don't realize that is what they are applying for.
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